Sources: Saudi Arabia weighs potential BRICS membership

Saudi Arabia is examining an invite to join BRICS, a coalition of nations, after being proposed by the group last year. This group, in August, extended the same invitation to the United Arab Emirates, Egypt, Iran, Argentina, and Ethiopia which will begin on Jan. 1, though Argentina expressed its reluctance in November. Jan. 1 wasn’t a hard deadline for a decision, citing the compelling benefits of the membership due to China and India being Saudi Arabia’s most significant trade partners. Faisal Alibrahim, the economy minister of Saudi Arabia, confirmed that the kingdom was still pondering the decision. Despite close ties with the US, Saudi Arabia has been diversifying its international relationships, considering the political implications of this alliance. On Tuesday, Saudi Arabia’s commerce minister stated at the World Economic Forum in Davos that the kingdom hadn’t joined the BRICS. Saudi state TV reported earlier that the kingdom had joined the bloc, but withdrew the reports from its social media accounts later. The UAE affirmed its acceptance of the invitation, emphasizing economic rather than political reasons for joining.